Stock Report

L&T wins Orders for its Hydrocarbon Business

Posted On : 2022-11-28 15:02:22( TIMEZONE : IST )

L&T wins Orders for its Hydrocarbon Business

The Hydrocarbon Business (L&T Energy Hydrocarbon - LTEH) of L&T has secured two prestigious offshore orders.

The Business has received India's first contract for decommissioning of offshore facilities from British Gas Exploration and Production India Limited (BGEPL, part of Shell Plc Group of Companies). The contract scope of work involves Engineering, Preparation, Removal and Transportation of five (5) offshore Wellhead Platforms and associated facilities at the Tapti field, off India's west coast, which is being operated by the Joint Venture of BGEPL, ONGC, and RIL.

The Business has also secured an order from Oil & Natural Gas Corporation (ONGC) for balance works of Pipeline Replacement Project-VI Project (PRP-VI). The scope involves laying of approx. 42 kms subsea pipelines and associated subsea works across India's west coast offshore fields of ONGC.

These order awards are testimony to L&T's execution excellence spanning across the entire Hydrocarbon value chain and reinforces its leadership position as a one-stop solution provider.

Organized under Offshore, Onshore, Construction Services, Modular Fabrication and Advanced Value Engineering & Technology (AdVENT) verticals, LTEH offers integrated design-to-build solutions across the hydrocarbon sector to domestic and international customers. With over three decades of rich experience, the company has been setting global benchmarks in all aspects of project management, corporate governance, quality, HSE and operational excellence.

Shares of Larsen & Toubro Limited was last trading in BSE at Rs. 2062.30 as compared to the previous close of Rs. 2054.20. The total number of shares traded during the day was 102466 in over 8700 trades.

The stock hit an intraday high of Rs. 2095.00 and intraday low of 2055.00. The net turnover during the day was Rs. 212804586.00.

Source : Equity Bulls


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